Trump Accuses Banks of Undermining Crypto Legislation Amid Legislative Hurdles

The US crypto regulatory landscape is facing yet another hurdle as President Donald Trump has publicly accused banks of undermining key legislation aimed at promoting the growth of digital assets.

According to Trump, the Genius Act, which established a federal framework for payment stablecoins and reserve requirements, is being threatened by banking groups.

The main point of contention revolves around the Clarity Act, a broader bill that seeks to define regulatory responsibilities among agencies and provide long-sought legal certainty for crypto markets.